Asia currencies set for worst month since '97
"Asian currencies were set for their biggest monthly loss in more than a decade as concern some European nations will struggle to pay their debts and a global slowdown bolstered demand for the relative safety of the dollar.
“The odds are rising for a recession in Europe and we are seeing adjustments to market positioning on risk aversion,” said Roy Teo, a currency strategist at ABN Amro Private Bank in Singapore. “Asian economies and currencies will not be spared as global growth is revised down.” "
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